SHE:001336 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	38.54	28.33	37.93	64.81	84.21
Depreciation & Amortization	13.17	9.27	8.87	8.64	6.53
Other Amortization	0.46	1.12	0.89	0.7	0.23
Loss (Gain) From Sale of Assets	-0.47	0.01	0.02	-0.05	-
Asset Writedown & Restructuring Costs	1.84	-	0	17.27	15.86
Loss (Gain) From Sale of Investments	-8.79	-9.72	-10.21	-4.26	-4.1
Provision & Write-off of Bad Debts	-	35.46	24.22	-	-
Other Operating Activities	32.21	0.74	-0.26	0.88	3.2
Change in Accounts Receivable	-84.03	-56.21	-61.27	-57.03	-160.45
Change in Inventory	15.88	-23.69	-20.24	103.12	-56.56
Change in Accounts Payable	46.14	72.35	34.07	-196.01	157.14
Operating Cash Flow	49.19	52.24	10.96	-63.03	43.6
Operating Cash Flow Growth	-5.84%	376.78%	-	-	-31.44%
Capital Expenditures	-58.92	-102.78	-50.83	-16.01	-38.63
Sale of Property, Plant & Equipment	0.05	0.01	0.02	0.07	0.01
Investment in Securities	-118.9	-80.45	107.3	-252.63	-20
Other Investing Activities	11.02	2.86	7.18	1.69	3.71
Investing Cash Flow	-166.75	-180.35	63.67	-266.88	-54.9
Long-Term Debt Issued	102.73	31.06	43.63	6.5	69.57
Total Debt Issued	102.73	31.06	43.63	6.5	69.57
Long-Term Debt Repaid	-82	-6.27	-14.07	-38.42	-50.38
Total Debt Repaid	-82	-6.27	-14.07	-38.42	-50.38
Net Debt Issued (Repaid)	20.73	24.79	29.57	-31.92	19.19
Issuance of Common Stock	-	-	-	421.24	-
Repurchase of Common Stock	-	-10.11	-	-	-
Common Dividends Paid	-14.6	-12.34	-10.46	-0.85	-0.79
Other Financing Activities	19.63	-	-	-41.13	-
Financing Cash Flow	25.76	2.33	19.11	347.34	18.4
Net Cash Flow	-91.8	-125.78	93.73	17.42	7.09
Free Cash Flow	-9.73	-50.54	-39.87	-79.04	4.97
Free Cash Flow Growth	-	-	-	-	-89.27%
Free Cash Flow Margin	-2.18%	-12.58%	-8.71%	-13.86%	0.85%
Free Cash Flow Per Share	-0.12	-0.62	-0.49	-1.15	0.08
Cash Income Tax Paid	18.82	23.07	33.9	37.54	40.7
Levered Free Cash Flow	-18.69	-23.77	-45.27	-117.52	-55.92
Unlevered Free Cash Flow	-18.69	-23.57	-45.17	-116.91	-53.98
Change in Working Capital	-27.76	-12.97	-50.5	-151.02	-62.33

Source: S&P Global Market Intelligence. Standard template. Financial Sources.